CAC 40 Up 39 Points On Hopes For US-China Trade Deal

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French stocks rose sharply on Friday as investors braced for U.S.-China trade talks scheduled for next week.

There is some reason for optimism after U.S. Treasury Secretary Steven Mnuchin said he saw progress in trade talks and currency issues will remain part of the discussions.

U.S. Commerce Secretary Wilbur Ross quelled expectations of an imminent free-trade agreement with China, but added there is a fair chance they will get a deal.

The benchmark CAC 40 was up 39 points or 0.79 percent at 4,910 in opening deals after climbing 0.7 percent on Thursday.

A weaker euro boosted auto stocks, with Renault up 3.8 percent and Peugeot rising 1.1 percent.

AccorHotels rose half a percent after announcing two bond issues for 1.1 billion euros.

Air Liquide was marginally lower after it acquired an 18.6 percent stake in the capital of Canadian company Hydrogenics Corporation.